SONM (SNM)

From CryptoCurrency Wiki

Basics

  • ICO was preceded by a pre-sale: Pre-sale tokens SPT were sold - 10,000 ETH were raised within 14 hours
  • Supercomputer Organized by Network Mining, is a blockchain-based distributed computing platform where users with computing power will be able to rent it out to those in need of computing capacity. SONM aims at building a global peer-to-peer computing marketplace by connecting different sorts of resource providers, and at replacing traditional Proof-of-Work cryptocurrency mining. SONM should be a profitable solution for both ex-cryptocurrency miners and anyone else who has computing power to rent out, even on a smartphone. Investors other than capacity providers will also be able to gain profit in the form of dividends. The project will rely on a set of open source technological solutions, including Ethereum smart contracts.
  • Token issued on Ethereum blockchain, ERC20 compliant. Will be used by the buyers of computing power to pay for the calculations using the smart-contracts based system
  • The prices for computing tasks will be set manually at first; then a mechanism similar to Parity will be launched, which would calculate the prices automatically using variable factors as reference
  • Dividends to SONM token holders will be allocated as a percentage from the network fees
  • A control system for SONM will be created in the form of a simple Decentralized autonomous organization (DAO)

DAO members will be able to vote on the following:

  1. - size of a settlement commission, if any (see explanation below)
  2. ‑ minimal dividend payout
  3. ‑ the distribution of additional funds towards tasks important for the community
  4. Settlement commission:
  5. - Paid by concentrators (hubs) of the network registered in the whitelist to the DAO wallet at the end of each payout period
  6. - The minimum commission amount is 0,5% from the hubs’ turnover funds
  • 100% of the commision amount accumulated at DAO wallet will be distributed among token holders as dividends, including users other than providers of computing power (within the framework of the DAO)
  • Dividends will also be accrued on 20,000,000 SNM tokens that will not be sold during ICO and will form SONM ecosystem fund; those dividends will be used to finance SONM operations
  • New SONM employees will receive bonuses in SONM tokens: within 6 quarters, starting from Q2 2018, a program of buyback tokens from the market with a maximum value of $1.2 million is planned
  • The platform will allow to provide cloud services (SaaS, IaaS, PaaS) through peer-to-peer network
  • can be especially suitable for Internet of Things and Internet of Everything applications that have to deal with massive amounts of data
  • Built on top of existing time-tested open source technologies: Ethereum blockchain handles payments and data routing, Cocaine PaaS technology implements virtual machines recognized as servers, Docker provides platform`s safety, security and results verification, BitTorrent — data transfer, BitMessage — communication
  • By using existing technologies, SONM is likely to develop and get to the market faster than its competitors and obtain more community support
  • could have problems in the future as its token might be perceived as security by the regulators because of the proposed dividend policy

Team, etc.

  • Ponomarev, Sergey; lead SONM deceloper and creator of the SONM core architecture components
  • Voronkov, Andrey; SONM founder and advisor, is founder and CEO at DrugDiscovery@home project — a distributed computing project which uses the power of different computing devices to contribute to discovery of new drugs for treatment of cancer and degenerative diseases. He is also head of Digital BioPharm Ltd founded to manage the DrugDiscovery@home project.
  • The rest of the team are mostly tech guys. One of the most experienced developers is Anton Tiurin (Github), a software engineer at Yandex where he was one of the creators of the Cocaine cloud platform.

The list of advisors includes among other:

  1. Jake Vartanian, founder of Cryptodex, a blockchain consulting and marketing firm; recently worked on ICO launches for SingularDTV, TokenCard, and the Bancor Protocol
  2. Alexander Rugaev from ICOpromo — a project providing various ICO services for blockchain startups
  3. Jaron Lukasiewicz, a former investment banker at J.P.Morgan; CEO and founder of Coinsetter — a NYC based Forex trading platform for Bitcoin (acquired by Kraken)
  4. Emmanuel Abiodun with engineering experience at HSBC and J.P.Morgan; a co-founder of Servicefy — an app allowing users to keep service and maintenance record for their vehicle.
  • The escrow agent is Sergei Sergienko, co-founder of Edway Group Ltd (Australian firm providing vocational training and labour supply) and Chronobank CEO. SONM and Chronobank are also partners for ICO: during ICO Chronobank TIME tokens will be accepted.
  • Another partner is the PR firm Wachsman PR and Aion